San
Francisco, 06 December 2018, The global barge transportation market size is anticipated to
reach USD 140.62 billion by 2025, according to a new report by Grand View
Research, Inc., rising at a CAGR of 3.4% during the forecast period.
The market is projected to
witness significant growth over the forecast period, thanks to growing
intermodal transportation in several industries including petrochemicals, crude
oil, and food processing. Several initiatives undertaken by various governments
to encourage inland water transport and continued investments being made by
various governments to develop inland water transport infrastructure. North
America is expected to offer tremendous growth opportunities for the barge
transportation market owing to presence of several barge manufacturers and
service providers, growing exports and imports, and abundance of waterways.
Barge transportation can be
considered a cost-effective and high-capacity mode of transportation as
compared to other modes of transport, such as road, rail, and air. Barges can
support higher loads and ensure safety, particularly when it comes to
transportation of large volumes of cargos. As a result, adoption of barges is
expected to increase over the forecast period.
Increasing spending on research
and development activities and subsequent advancements in technology are
resulting in development of technologically advanced barges. LNG-fired barges
are emerging as an environmentally-friendly alternative for conventional barges
powered by diesel engines. Advancements in communication and navigation
technologies coupled with growing adoption of IoT and other smart technologies
are triggering the efficiency and safety factor of barges.
The barge transportation market
remains highly vulnerable to developments in the end-use industries,
particularly the crude oil and petrochemicals industries. The growth in the
petrochemical industry and emerging opportunities in ethanol production are
expected to positively influence the growth of the market. For instance, Kirby
Corporation has recently acquired Higman Marine, Inc. owing to increasing
opportunities in petrochemical and ethanol transportation activities.
Access Full Research
Report On Barge Transportation Market Analysis:
www.grandviewresearch.com/industry-analysis/barge-transportation-market
www.grandviewresearch.com/industry-analysis/barge-transportation-market
Further key findings from the report suggest:
·
The demand for barges is
projected to increase significantly in line with growth in economy and rising
demand for petrochemicals
·
The demand for tank barges is
rising due to increasing demand for crude oil and growing production of
ethanol. Burgeoning output of shale oil in the U.S. is expected to increase
adoption of barges for transportation
·
Barge manufactures are focusing
on developing technologically advanced products that can ensure safety of cargo
throughout the transportation
·
The dry cargo segment is
expected to hold the largest market share and expand at a CAGR of 2.9% from
2018 to 2025
·
The liquid cargo segment is
projected to grow at the highest CAGR over the forecast period.
·
A large number of barge
manufacturers are located in North America and Europe, as these regions have
well developed waterways. The two regions account for sizeable cumulative share
in the global market
·
Key players in the market
include Campbell Transportation Company, Inc.; Alter Logistics; American
Commercial Lines LLC; Heartland Barge; and Kirby Corporation; SEACOR Marine
Holdings Inc.
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Grand View Research At: www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the
global barge transportation market on the basis of type of cargo, barge fleet,
application, barge activities, and region:
Barge Transportation Type of
Cargo outlook (Revenue, USD Million, 2014 - 2025)
·
Liquid cargo
·
Gaseous cargo
·
Dry cargo
Barge Transportation Barge
Fleet outlook (Revenue, USD Million, 2014 - 2025)
·
Covered barge
·
Open barge
·
Tank barge
Barge Transportation
Application outlook (Revenue, USD Million, 2014 - 2025)
·
Coal
·
Crude and petroleum products
·
Liquid chemicals
·
Food pulp and other liquids
·
Agricultural products
·
Metal ores and fabricated metal
products
·
Pharmaceuticals
·
Dry and gaseous chemicals
·
LPG, CNG, and other gaseous
products
·
Electronics and digital
equipment
·
Others
Barge Transportation Barge
Activities Outlook (Revenue, USD Million, 2014 - 2025)
·
Intracoastal transportation
·
Inland water transportation
Barge Transportation Regional
Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
o
France
o
Netherlands
·
Asia Pacific
o
China
o
Japan
·
South America
o
Brazil
·
MEA (Middle East and Africa)
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-barge-transportation-market
www.grandviewresearch.com/press-release/global-barge-transportation-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/